Home > INTRODUCTION TO MICROECONOMICS Syllabus Professor Cameron M. Weber weberc49@newschool.edu Website: cameroneconomics.com Prepared

INTRODUCTION TO MICROECONOMICS Syllabus Professor Cameron M. Weber weberc49@newschool.edu Website: cameroneconomics.com Prepared

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INTRODUCTION TO MICROECONOMICS Syllabus Professor Cameron M. Weber weberc49@newschool.edu Website: cameroneconomics.com Prepared: Fall 2010

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Weber- Micro 2
COURSE DESCRIPTION: This course is suitable both for economics and non-economics majors as gives an overview of economics as a social science for those wishing to learn the basics of economics while pursuing other undergraduate majors, however at the same time, the course provides a solid grounding in microeconomics for those wishing to pursue further education in economics. The class as well gives an overview of ��thinking like an economist�� and as such provides a solid grounding in economic thought and not just microeconomics as a sub-field. Differing perspectives from mainstream economics, especially Austrian School Economics, Marxist Economics and Cultural Economics, are also introduced throughout the course in order to give the student an insightful perspective to understand and critique contemporary debates over economic policy and to provide an understanding of these differing views of societal economic organization and the welfare and political philosophy perspectives of these differing views. Class participation is an important part of the class development, counting for 10% of the grade, as is an essay on a contemporary policy debate using the economic reasoning introduced in the class, counting for 15% of the grade. In addition there will be homework assignments every two weeks (counting for 15% of the course grade). The midterm exam will count 20% towards the final course grade, and a cumulative final exam makes up the remaining 40% of the class grade. REQUIRED TEXT: TITLE: Principles of Microeconomics, 5
th
Edition (2007) AUTHOR: N. Gregory Mankiw PUBLISHER: South-Western

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Weber- Micro 3
ADDITIONAL REQUIRED READING MATERIAL: D.T. Armentano (1978). ��A Critique of Neoclassical and Austrian Monopoly Theory.�� http://mises.org/daily/1800 John B. Davis (2010). ��Book Review: Economics, culture and social theory, by William A. Jackson.�� (Will be made available on Instructor��s website) Friedrich Hayek (1945). ��The Use of Knowledge in Society.�� http://www.econlib.org/library/Essays/hykKnw1.html Anthony de Jasay (1989). Social Contract, Free Ride: A Study of the Public-Goods Problem, Indianapolis, IN: Liberty Fund. (Relevant chapters will be made available through the Instructor��s website) Israel Kirzner (1978). ��Economics and Error��. http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=106&c hapter=6023&layout=html&Itemid=27 Karl Marx (1865). Value, Price and Profit. http://www.marxists.org/archive/marx/works/1865/value-price-profit/index.htm Gerald P. O��Driscoll, Jr. (1978). ��Spontaneous Order and the Coordination of Economic Activities.�� http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=106&c hapter=6050&layout=html&Itemid=27 Mario Rizzo (1978). ��Praxeology and Econometrics: A Critique of Positivist Economics.�� http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=106&c hapter=6006&layout=html&Itemid=27 Gordon Tullock (1967). ��The Welfare Costs of Tariffs, Monopolies and Theft.�� http://cameroneconomics.com/tullock%201967.pdf Voltaire (1738).��On Commerce and Luxury��, from Commerce, Culture and Liberty: Readings on Capitalism before Adam Smith, Indianapolis, IN: Liberty Fund. (Will be made available on Instructor��s website)

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Weber- Micro 4
GRADING PROTOCOL Class attendance and participation: 10% Homework (every two weeks): 15% Class paper: 15% You will write a 1500 word maximum paper on a topic of your choosing on a contemporary economic policy debate, applying Mankiw��s Ten Principles of Economics in your evaluation of this debate. If you cannot find a topic, the Instructor can suggest ideas. You will have a chance to resubmit the paper for a better grade, if you attach the original paper with the Instructor��s comments and suggestions for improvements along with the revised version of your paper. Midterm Exam: 20% The midterm exam will be 25 true/false and multiple choice questions Final Exam: 40% The final exam will be cumulative (covering all of the semester��s topics), and will be 50 true/false and multiple choice questions Class Rules: There will be no cellphone or text use during class, computers (and iPhones etc.) are acceptable if they are used to do research in order to participate in class discussion. There will be no prolonged ��side discussions�� tolerated during class as they distract from the learning of others. Anyone who persists in disrupting the class will be asked to leave the classroom. There will be no make-up exams, homework assignments, or ��extra-credit�� opportunities. It is expected that you will conform to the above grading protocols. If emergencies arise, it is expected that you will meet with the instructor during office hours or by appointment via email to work-out a realignment of the grading protocol, including providing verifiable documentation for emergency-based missed deadlines. There will be no realignment of the grading protocol for any student unless it is due to an unforeseen emergency.

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Weber- Micro 5
TOPICS: Week 1: Introduction to Economic Thinking: Ten Principles of Economics Mankiw, Chapter 1 Week 2: Introduction to Economics: Economist as Scientist and Policy Advisor Mankiw, Ch. 2; Rizzo (1978) Praxeology and Econometrics: A Critique of Positivist Economics Week 3: Introduction to Economics: Graphs and Curves Mankiw, Ch. 2, Appendix Week 4: Societal Organization and Gains Through Trade Mankiw, Ch. 3; Hayek (1945) The Use of Knowledge in Society Week 5: Supply and Demand Mankiw, Ch. 4; D.T. Armentano (1978) A Critique of Neoclassical and Austrian Monopoly Theory; Kirzner (1978) Economics and Error Week 6: Elasticities of Supply and Demand Mankiw, Ch. 5 Week 7: Welfare Economics: Consumer and Producer Surplus Mankiw, Ch. 7 Week 8: Government Policy: Price Controls and Taxes Mankiw, Ch. 6; Tullock (1967) The Welfare Costs of Tariffs, Monopolies and Theft Week 9: Perfect Competition, Externalities and Public Goods Mankiw, Chapters 10 and 11; de Jasay (1989) Social Contract, Free Ride Week 10: Economics of the Labor Market

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Weber- Micro 6
Mankiw, Chapters 18 and 19 Week 11: Inequality and Political Economy Mankiw, Ch. 20; Voltaire (1738) On Commerce and Luxury Week 12: Cutting Edge Topics in Economics: Asymmetric Information, Moral Hazard, Arrow��s Impossibility Theorem, and Behavioral Economics Mankiw, Ch. 22 Week 13: Critiques of Neoclassical Economics Davis (2010) Book Review: Economics, culture and social theory, by William A. Jackson; O��Driscoll, Jr. (1978) Spontaneous Order and the Coordination of Economic Activities; D.T. Armentano (1978) A Critique of Neoclassical and Austrian Monopoly Theory; Karl Marx (1865) Value, Price and Profit

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